Under this a facility through the Reserve Bank of India's NEFT System Metro Railway can transfer fund to any person or organization maintaining account with any of the participating commercial Banks all over India. Account of the supplier / contractor will be credited with the amount of bill within 2 days of passing of bill. An agreement with State Bank of India,Chowringhee Branch, 38B, J. L. Nehru Road, Kolkata - 700 071 has been entered into in this regard. State Bank of India has agreed to provide the service free of cost. Necessary software has been developed to integrate the NEFT module with Metro Railway's computer software so that no manual intervention is necessary for running of the NEFT system.

NATIONAL ELECTRONIC FUND TRANSFER (NEFT) HAS BEEN IMPLEMENTED SUCCESSFULLY FROM 08.03.2006.

NOW, METRO RAILWAY CAN TRANSFER FUND TO THE VENDORS/SUPPLIERS ACCOUNT WITHIN 2 DAYS IN 15 MAJOR CITIES IN INDIA THROUGH RBI- NEFT SYSTEMS.

METRO RAILWAY CAN ALSO TRANSFER FUND TO THE VENDORS ACCOUNT WITHIN 2 DAYS IN 15 MAJOR CITIES IN INDIA THROGH SBI STEPS SYSTEM WHO HAVE BANK ACCOUNTS IN STATE BANK OF INDIA.

ALL CONTRACTORS AND VENDORS OF METRO RAILWAY ARE REQUESTED TO PARTICIPATE IN THE SYSTEM OF PAYMENT THROUGH NEFT BY EXERCISING THEIR OPTION THROUGH THE MANDATE FORM GIVEN BELOW, IN DOWNLOADABLEFORMAT.

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